SpaceX began trading on Nasdaq on June 12, 2026, following the largest IPO in history, which raised $75 billion. The event has sparked discussions about its potential impact on cryptocurrency markets, particularly Bitcoin. Recent outflows of over $5 billion from Bitcoin ETFs, which pushed BTC below $60,000, are thought to be partly driven by investors redeploying capital to participate in the IPO. Some analysts believe these funds may return to crypto, lifting prices. However, pseudonymous analyst Doctor Profit warns that mega IPOs often signal market tops, citing Saudi Aramco's IPO in 2019 as a precedent. The previous five largest IPOs occurred near major or interim peaks in the S&P 500, suggesting potential downside for equities and risk assets like Bitcoin. SpaceX's crypto contracts imply a $2.4 trillion valuation, 35% above the IPO price. Key developments include BlackRock filing for a Bitcoin income ETF and Metaplanet acquiring Siiibo Securities.

Key facts

• SpaceX's $75B IPO, the largest in history, begins trading on Nasdaq.
• Over $5B from Bitcoin ETFs may have funded IPO; funds could return to crypto.
• Analyst warns mega IPOs like Saudi Aramco often signal market tops.
• SpaceX crypto contracts imply $2.4T valuation, 35% above IPO price.
• BlackRock files Bitcoin income ETF; Metaplanet buys Siiibo Securities.

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